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Understanding by Design Lesson

Overview and Background


Unit Title: Grade Level: Curriculum Area: Length: Designed by: Resources: Starting a Business: Calculating Business Taxes 9-12th Legal Environment of Business 2 weeks Lakita Reese Lesson Plans Week 1-2 Starting a Business Project Directions Business Profile Summary Sheet Business Legal Structures sheet (entity matching) Entity chart assignment Teacher- created Podcast on Business Legal Structures

Math Pre-Test Researching Business Taxes Sheet Business Tax Calculations sheet PowerPoint directions and rubric

Internet Sites:

Bibliography

Established Goals: Standards (state, local, national)

Georgia Department of Economic Development City of Savannah Money Chimp About.com/Tax Schedule The Bibliography contains the website resources used for the creation of the podcast and Internet research sites for the UBD unit. Stage 1: Identify Desired Results Content Standards: The standards for this unit include the content standards for the BCS-LEB (Business and Computer Science- Legal Environment of Business) as well as the CTAE (Career, Technical and Agricultural Education) foundation standards that are core standards for all career pathways. BCS-LEB 13: The student analyzes the role of government in managing a business (a. Identifies and assesses factors affecting a businesss profits (i.e. sales taxes, corporate taxes, income taxes, self-employment taxes from the federal, state, and local levels.) CTAE-FS2- Communications: Learners use various communication skills in expressing and interpreting and information. CTAE-FS-11- Entrepreneurship Learners demonstrate understanding of concepts, processes, and behaviors associated with entrepreneurial performance.

What understandings are desired?

Students will understand that: Business owners do not receive all of the profit that is earned from a business. They have obligations to pay business taxes to the federal, state, and local governments. Math is used in real world applications. Businesses are formed under 3 main types of legal entities: Sole Proprietorships, Partnerships, and Corporations. There are advantages and disadvantages to each type of legal entity.

Essential Questions

Overarching Questions: Topical Questions: Does a business receive all of How much are the federal, local, the income earned from a and state taxes in Georgia? business? What are the three major business Are there legal ways to start a legal entities? business? How do you change a percentage Does math apply to starting and to a decimal? operating a business? How do you multiply numbers and decimals? Students will know: The types and amount of taxes businesses must pay when starting a business. The three types of legal entities and the advantages and disadvantages of each. How to convert a percentage to a decimal. How to multiply a whole number and a decimal. The importance of math in the real world. Students will be able to: Identify the business taxes business owners have to pay for federal, state, and local governments. Identify the 3 main types of legal entities and explain the characteristics and advantages and disadvantages of each. Choose a legal entity for a proposed business and explain why they chose it as their legal entity type. Convert percentages to decimals. Multiply numbers, decimals, and percentages. Create a PowerPoint presentation outlining a created business, legal entity, products/services offered, taxes paid to federal government.

What students will know

What students will be able to do.

Stage 2: Performance Task Goal and Role: You or you and a partner own a business that has gross profit of $50,000. You would like to know how much of your business income is spendable income, so you or you and your business partner research how much business taxes do business owners have to pay. Once you find out how much business taxes you have to pay you subtract it from your profit to arrive at your net profit. You decide that your information is very valuable so you decide to share with other potential business owners at a Small Business Development Workshop in your local community. So you prepare a short presentation that describes your business, and you show what taxes business owners have to pay and how it affects their profits. Audience: th th Student peers (prospective business owners) in grades 9 12 grade. Situation: You are a business owner that has to find out how much business taxes you would have to pay and how that amount affects the amount of disposable income you take home. You create a PowerPoint presentation to present to other prospective business owners at a Small Business Development workshop. Product Performance and Purpose: 1. Develop a PowerPoint presentation to inform you and business owners of the taxes that business owners have to pay and how it affects net profit. It should include all criteria outlined in the Business Taxes PowerPoint rubric. Name of business, slogan, and description of type of product(s) or service offered. State the legal entity chosen for the business and explain why it was chosen. A chart showing business costs/taxes and net profit A project reflections slide explaining what was learned from completing the project (i.e. business taxes, legal entities) Check for spelling, punctuation, and grammar errors. Your PowerPoint presentation should be easily read on the screen.

Standards and Criteria for Success: Your work will be graded using the following rubrics: Business Taxes PowerPoint Rubric

Other Evidence Tests, Quizzes, Observations, Journals, etc.

Pre-Test 1. Students will take the Math Pre-Assessment on calculating decimals and percentages at the beginning of the unit. (Facet 1: Understanding) Prompting Questions These questions will be used as prompts for sponge activities, class discussion, and or exit tickets. 1. If you have a job, do you receive all of your income or do you have taxes taken out of your check? Do you think all business owners keep off the profits that they make? (Facet 2- Interpret) 2. What types of math have you learned that you think you will use in the real world, particularly in starting a business? (Facet 2- Interpret) 3. Have you seen LLC, Inc., or LLP behind a businesss name? What do you think those letters mean? (Facet 2: Interpret) 4. What is an LLC, Corporation, and Sole Proprietorship? Give an advantage and disadvantage of each. (Facet 4 Perspective) 5. Why would a business owner choose a sole proprietorship over a corporation? (Facet 4: perspective)

Student self assessment and reflection

Students will answer the following questions at the end of the PowerPoint presentation: (Facet 6: Self-Knowledge) What have you learned from completing this project? (Include what have you learned about business legal structures and business taxes that have to be paid to the local, state, and federal governments? Would you still like to pursue this business in the future? Students will write a short statement stating how well they have met the rubric criteria and standards. How would you feel if you were a business owner who after paying taxes had a negative net profit instead of a positive net profit? Would this encourage you to continue the business and try harder at earning more money or discourage you and make you think that business ownership is not for you? (Facet 5: Empathy)

What understandings will be assessed through this task?

Facet 1- Understanding Students will demonstrate understanding why business owners do not keep all profit from a business. Students will demonstrate how math is used in the business world. Students will understand how government regulates business through taxes. Students will understand why businesses choose certain legal structures for their businesses. Facet 2 Interpret Students will be able to realize that just as taxes are taken out of their paychecks from their jobs, taxes are also taken out of business owners profits. Students will understand that multiplying percentages and decimals in their algebra class can be applied to real world situations, such as calculating business taxes. Facet 3 Application Students will understand how to use multiplication to multiply decimals and percentages to calculate local, state, and federal business taxes. Students will listen to a teacher-created podcast on legal entities (legal structures) and create a chart that shows the advantages and disadvantages of each type of entity. They will then have to choose what entity they would like to operate their business under. Facet 4 Perspective Students will understand why one business owner may choose a different legal entity for their business than the other. Facet 5 Empathy Students will explain how they would feel if they were a business owner that after paying taxes had a negative net profit instead of a positive net profit. They will also explain if a negative net profit would encourage them to continue the business and try harder at earning more money or discourage them and make them think that business ownership is not for them. Facet 6 Self Knowledge Students will understand why they have chosen a certain legal structure for a business and how it relates to the amount of taxes they pay. Students will give project reflections and state what they have learned from the project. Using the rubric for this project, students will write a short statement explaining how well they think they have met the criteria for the project.

What must the student demonstrate to signify that the standards are met?

Daily Assignments Students will create an entity chart that shows the advantages and disadvantages of each type of legal entity. (Facet 4: Perspective) Students will complete a business profile summary listing: the business owners, legal structure and why, Products/Service offered, prices, how is your business/product different from other similar businesses, business slogan and logo. (Facet 3: Application; (Facet 4: Perspective)) Sponge (Day 3): Review of legal entities, business taxes ( Facet 1: Understanding; Facet 2: Interpretation) Students will record their research findings on the amount of taxes required of business owners at the local, state, and federal levels using the Researching Business Taxes sheet (Facet 1: Understanding; Facet 2: Interpretation). Students will use the Calculating Tax Sheet to multiply the business tax rates by profit to determine net profit. (Facet 1: Understanding; Facet 3: Application) Students will create a PowerPoint that describes their business, shows what taxes business owners have to pay, and how paying these taxes affects their profits. Students will prepare a short presentation that describes their business, shows what taxes business owners have to pay and how it affects their profits. This presentation will be given at Small Business Development workshop for business owners.

What authentic performance will be used to demonstrate student understanding? By what criteria will student products and performances be evaluated?

The six facets are included within the rubrics of the performance tasks and are labeled beside the Other Evidence activities. (See attachments for rubrics) Business Taxes PowerPoint (Facet 1: Understanding; Facet 2: Interpretation Facet 3: Application; Facet 6: Self Knowledge; Facet 5: Empathy)

Stage 3 Learning Activities W Where are your students headed and Why? What is required of them?

On the first day of the unit, I will hand out the Starting a Business Project Directions. These directions will give the following: The situation/scenario, the design brief of what they will be required to do for the project, the competencies to be demonstrated, the habits of success to be demonstrated, and the building and performance guidelines.

How will the students be hooked and held in this unit?

I will hook the students on the first day of the unit by asking them, Do you want to be a business owner? Why or why not? Each student will be asked to share their response and we will develop a class discussion. This will get students thinking about business ownership. I will maintain students interest by allowing them to be creative in creating a business that they may want to start in the future. Students will have the opportunity to come up with a business name, slogan and logo, and identify the products/services they will offer. The project activities are based around their business idea.

Ongoing hooks will be from discussion from the following prompting questions in sponge activities and exit passes during the lessons each day: 3. If you have a job, do you receive all of your income or do you have taxes taken out of your check? Do you think all business owners keep off the profits that they make? 4. What types of math have you learned that you think you will use in the real world, particularly in starting a business? 3. Have you seen LLC, Inc., or LLP behind a businesss name? What do you think those letters mean? 4. What is an LLC, Corporation, and Sole Proprietorship? Give an advantage and disadvantage of each. 5. Why would a business owner choose a sole proprietorship over a corporation?

What activities, instruction, and guidance will be provided to enable and equip students to explore and experience the important ideas in this unit?

Daily Assignments After listening to a teacher-created podcast on business legal structures, students will complete an entity chart that shows the characteristics of the three types of entities and their advantages and disadvantages. Students will also have the choice of creating a report or PowerPoint to summarize the characteristics and advantages and disadvantages of each type of entity (differentiated instruction).(Facet 4: Perspective). Students will complete a business profile summary listing: the business owners, legal structure and why, Products/Service offered, prices, how is your business/product different from other similar businesses, business slogan and logo. Students will have the option of submitting the business profile summary sheet or a brochure (Differentiated instruction) Sponge (Day 3): Review of legal entities, business taxes ( Facet 1: Understanding; Facet 2: Interpretation) Students will record their research findings on the amount of taxes required of business owners at the local, state, and federal levels using the Researching Business Taxes sheet. Two variations of this sheet is provided (Differentiated instruction). (Facet 1: Understanding; Facet 2: Interpretation). *Students will use the following websites to research business taxes: Georgia Department of Economic Development City of Savannah Money Chimp About.com/Tax Schedule Students will use the Calculating Tax Sheet to multiply the business tax rates by profit to determine net profit. (Facet 1: Understanding; Facet 3: Application) Students will use the Business Taxes PowerPoint Rubric to self-assess themselves as they are completing the PowerPoint.

What activities, products and performances will be designed to provide students with the opportunity to reflect, rethink, and revise?

Students will be provided numerous opportunities to reflect, rethink, and revise. They will have the opportunity to reflect and rethink at the beginning and at the end of each class period by responding to the sponge activity and exit pass questions that are given. The following are the questions that will be given as sponge questions and exit pass questions: Sponge: Day 3 1.What is an LLC, Corporation, and Sole Proprietorship? Reflect 2. Give 1 advantage and 1 disadvantage of each. Reflect 3. What is your companys legal entity type and why did you choose it for your business? Reflect Practice Revise/Rethink: After giving students time to research the various fees, come together to check what tax rates students have found and if they are correct. Sponge Day 4: Based on your tax calculations from the previous day, what is the amount of taxes business have to pay? Review sponge. Students will correct their answers if they did not perform the calculations correctly. (REVISE) E What self-assessments and self-evaluations will students participate in to allow for reflection and transfer of learning?

Students will complete progress sheets during week 2 to monitor their progress on completing the project. Students will answer the following questions at the end of the PowerPoint presentation: What have you learned from completing this project? (Include what you have learned about business legal structures and business taxes that have to be paid to the local, state, and federal governments. Would you still like to pursue this business in the future?

Students will also have to complete the following statements on a separate assignment . Using the rubric for this project, write a short statement explaining how well you think you have met the criteria for the project. How would you feel if you were a business owner who after paying taxes had a negative net profit instead of a positive net profit? Would this encourage you to continue the business and try harder at earning more money or discourage you and make you think that business ownership is not for you? (Facet 5: Empathy)

How will instruction and activities be tailored to provide for the various learning needs, styles, knowledge and interests of students?

Gardners Multiple Intelligences Visual/Spatial Week 1:Day 2: Students will have the opportunity to complete a chart that shows the characteristics and advantages and disadvantages of each entity type after listening to a podcast. Students will also have the opportunity to complete their business profile summary in a brochure. Week 1: Day 1: Give project directions on the first day of the Unit. Bodily/Kinesthetic Week 1: Day 1: Students will have the opportunity to move around to select and collaborate with group members. Week 1: Day 3: Students will use the Internet to research business taxes.

Interpersonal/Intrapersonal Week 1-3: Students will have the option of working individually or with 2-3 group members on the business project. Linguistic Week 1: Students will have the opportunity to listen to a podcast about business legal structures. Week 2: Day 3-4: Students will have the opportunity to orally present their Business Project PowerPoint presentations to the class. Week 1-3: Give verbal directions when explaining the project directions and lesson activities. Logical/Mathematical Week 1: Day 4: Students will calculate business taxes by converting percentages to decimals and multiplying decimals and numbers. Week 1: Day 4: Students will answer the following in a sponge activity: What types of math have you learned that you think you will use in the real world, particularly in starting a business? Musical Week 2: Day 1-2: Students will be permitted to add music or sound effects to their PowerPoint presentation. Various Entry Points: Entity Characteristics Chart Students may summarize the characteristics of each business entity in a one page report (Level of Difficulty: High) (Narrational Entry Point) Students may create a PowerPoint presentation that explains the characteristics of each type of business entity (Level of Difficulty: Low). (Aesthetic Entry Point) Students may complete a chart that shows the characteristics of each type of legal entity (Level of Difficulty: Medium High). Researching Business Taxes Students will have two variations of the Starting a Business Researching Taxes response sheet. 1. One response sheet will be free response where there are no options to choose from. (Experimental Entry Point) 2. The second response sheet will give options to the correct answers. (Level of Difficulty: Low) Business Profile Summary Students have the option to complete the Business Profile Summary Sheet or a business brochure that outlines the required information for the business profile summary sheet ( Aesthetic Entry Point). How will learning experiences be organized/sequenced to provide for greatest acquisition/understanding. Math Pre-test at the beginning of the unit Sponge Activities at the beginning of each lesson Discussion of sponge; Explanation of class activities for the day Application of learning Closing activity: Essential questions; questions to monitor learning and progress of each days activities See attached for order of activities: Lesson Plans Week 1-2 (Daily Learning Plan)